Is Banner Elk, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Banner Elk was a Neutral Market.
Housing Prices in Banner Elk, NC
How much do homes in Banner Elk, NC cost?
Median Sold Price
$287,650
$282/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Banner Elk was $287,650 in March 2024, down 4.6% from last month, and the median price per square foot was $282.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $229.7K | - | N/A |
2 Bedrooms | $287.9K | $260K | -9.7% |
3 Bedrooms | - | - | N/A |
4 Bedrooms | $755K | $1.2M | +68.9% |
5+ Bedrooms | - | - | N/A |
Summary: Banner Elk housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.7%, 3 bedroom homes did not change, 4 bedroom homes increased by 68.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Beech Mountain | $254.5K | $1.2M | +401.0% |
Banner Elk | $335K | $795.1K | +137.4% |
Banner Elk | $301.4K | $287.6K | -4.6% |
Banner Elk Township | $311.4K | $287.6K | -7.6% |
Housing Supply in Banner Elk, NC
How many homes are available in Banner Elk, NC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 45 | +7.1% |
Summary: The Banner Elk real estate market had 45 homes for sale in March 2024, a 7.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 16 | 17 | +6.3% |
3 Bedrooms | 9 | 11 | +22.2% |
4 Bedrooms | 10 | 10 | 0.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Banner Elk housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 4 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Banner Elk in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Banner Elk, NC
How long does it take to sell a home in Banner Elk, NC?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 Days | 113 Days | +737.0% |
Summary: Homes in Banner Elk had an average of 113 days on market in Mar 2024, up by 737% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Banner Elk; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.